Just been analysing the CHN charts and I must say it looks good although a move above 35c is needed to confirm downtrend is complete imo.
The recent move down to new lows at 25.5c sets up a false break which is a very common pattern for low. Fales break lows are generally follwed by fast moves up and that looks to be the case here with a 35% move from low(25.5c)to high(34.5c) in the space of 4 days.
On the daily and weekly chart there are respectively double and triple bullish divergences on the RSI. Excellent stuff. The monthly chart needs to trade over 34.5c to make an outside candle. A break of 35c should eventually be followed by a consolidation month in September, perhaps trading back to 27.5c which was the low before the most recent low, and then it can start trending up. Just my opinion of course.
I must say I'm feeling extremely confident but patience is still required over the next couple of months.
El Capo
Just been analysing the CHN charts and I must say it looks good...
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Last
$1.37 |
Change
0.025(1.87%) |
Mkt cap ! $571.8M | |||
| Open | High | Low | Value | Volume |
| $1.33 | $1.37 | $1.31 | $2.349M | 1.749M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6763 | $1.36 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.37 | 1808 | 2 |
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| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| CHN (ASX) Chart |
